Stockland is on track to become the country’s largest land lease developer within just three years, after setting its sights on the fast-growing market of affordable accommodation for the over-55s.

ASX-listed Stockland, which last week said it had made the first 25 sales of land lease, or manufactured housing estate product, at its Aura masterplanned community in south-east Queensland, expects to sell more than 300 of these homes a year in about three years’ time.